Page 139 - CW E-Magazine (2-1-2024)

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RESTRUCTURING
Equipments
Siemens to set up subsidiary to house energy business Equipments

Siemens Ltd., a technology company It said it had approved “the immediate gas engines, steam turbines and complete
focused on industry, infrastructure, incorporation of a wholly-owned subsi- energy systems.
digital transformation, transport as well diary in Mumbai on the basis that the
as transmission and generation of elec- proposed subsidiary may be required if In November, Siemens AG had
trical power, has taken the fi rst explora- and when the board decides to imple- said it intended making this merger
tory step towards demerging its energy ment the aforesaid demerger.” proposal, post which Siemens Energy
business, with the board approving the would acquire a majority stake in
setting up of a wholly-owned subsi- This follows a request made by its the demerged entity. The demerger is
diary for that purpose. promoters, Germany-based Siemens expected to be completed by 2025.
AG and Siemens Energy, to “consider,
The board of directors in a recent evaluate and, thereafter, start taking The restructuring is part of Siemens
meeting, “authorised the management exploratory steps towards a potential Group’s plan to unbundle Siemens
to commence exploratory steps as may demerger of the company’s energy Energy and Siemens AG in India. In 2020,
be required to examine a potential business into a separate entity.” Siemens when Siemens Energy was established
demerger of the company’s energy busi- Energy is involved in developing and under a restructuring of the Siemens
ness...”, it said in an exchange fi ling. installing wind turbines, gas turbines, Group, the

AGRI DEVELOPMENT
Dhanuka Agritech ties up with SKRAU, Bikaner

Leading agri-input company, Dhanuka and Dr. Arun Kumar, Vice Chancellor, to provide scholarships, internships, and
Agritech Ltd., has signed a Memorandum SKRAU, Bikaner. Briefi ng about the employment to students of the university.
of Understanding (MoU) with Bikaner- development, Dr. Agarwal, noted that Dr. Prakash Singh Shekhawat, Research
based Swami Keshwanand Rajasthan agricultural knowledge, quality seeds, Director, SKRU said the MoU will
Agriculture University (SKRAU) to increasing the yield capacity of soil, water provide further impetus to agricultural
aid and promote soil management, avail- conservation in farming, and plant pro- research and expansion activities.
ability of quality seeds, plant protec- tection are fundamental requirements of
tion, better yield of crops and easy trans- farmers today. Dr. Ajit Singh Tomar, President –
fer of agri innovations’ benefi ts to the Research & Development, Dhanuka
farmers. The University and Dhanuka Group Agritech, informed that the MoU will
will work together to enable this. He also enable Dhanuka Group to take agricultural
The MoU was signed by Dr. R.G. proposed to develop an ideal agricultural R&D efforts to farmers through Agri-
Agarwal, Chairman, Dhanuka Agritech, village through joint efforts and offered culture Science Centres of the university.

ELECTROLYTE ADDITIVES 43
Aether Industries inks contract with lithium-ion
battery producer

Surat based Aether Industries Ltd. for the pharmaceutical, agrochemical, announce this new partnership and strate-
has announced its entry into the electro- material science, coating, high-perfor- gic agreement with our new customer, a
lyte additives and battery space through a mance photography, additives, and oil & global lithium-ion battery producer. We
contract with a global lithium-ion battery gas segments of the chemical industry. have been developing products for this
producer. fi eld for a long time, but wanted to make
Mr. Aman Desai, Director, Research, it public knowledge only after securing
The company manufactures advanced Manufacturing, and Operations, Aether a substantial commercial contract with a
intermediates and speciality chemicals Industries, said, “We are excited to global lithium-ion battery producer.”

138 Chemical Weekly January 2, 2024 Chemical Weekly January 2, 2024 139

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